A Few Words
About Selling BHPH Notes
Practical Financial Advice You Can Count on
Car Dealerships need cash to stay afloat
Sell BHPH Notes
Car Dealerships Need Cash To Stay Afloat, And Sometimes Cash Just Doesn’t Come In Fast Enough. In These Situations, You Might Want To Consider A Quick Way To Get Some Cash By Selling Buy Here Pay Here Notes.
Selling Buy Here Pay Here, Portfolio means that someone will buy your accounts receivable (often shortened to “receivables”) and they will do the collecting. You can sell all or some of your receivables.
The Buy Here Pay Here Notes will typically get you 70 to 90 percent of the principal value of outstanding notes..
The buyer obviously cannot give you full value on your receivables, because they don’t know whether they will be able to collect and because it will take a good deal of time and money for them to check on all your customers and to run the collections process.
What Can I Expect to Be Paid? How Long Does It Take to Get My Money?
BHPH Note Buyer companies pay based on
(1) The length of time the receivables have been outstanding,
(2), The number of receivables,
(3) The payment history of your customers.
(4) The value of the collateral.
Call Us @ 615-414-6708
Sell your BHPH portfolio in 5 EZ Steps
Step 1. Send In your Data from your DMS system.
Companies like Frazer, Wayne Reeves, Dealer Center and many others allow you to do a data export that you can send to us for review. If you do not have a DMS that is OK we can still work with you.
Step 2. We Provide A Purchase Offer or Letter Of Intent (LOI)
After reviewing your portfolio and considering things such as. L TV’s, Remaining terms, APR, and days past due. After being reviewed by the underwriting department the offer is generated and sent to you. This normally takes a day or to complete.
Step 3. Dealer sends in files for review.
In addition to the signed LOI we will need the following.
Customer Loan Documents.
Copy of the Original Contract
Copy of Customer Application
Current Payment Histories
Copy of Buyers Order
Step 4. Begin File Review
Once all the files are received underwriting will begin their review. They will see if any customers are past due and make sure all of the documents are in compliance. Then we will verify the accounts with the customers.
Step 5. Dealer Sends in Final Closing Documents
After all account have been verified we will send a final of customers to purchase. Then you will need to send in:
1. Original Contract
2. Original Customer Application
3. Updated Payment Histories
4. Buyers Order or Bill Of Sale
5. References if you have them
6. Copies of GPS, GAP or Warranties if applicable
Once all closing documents have been received from you, we will email you the final contract which you will need to have signed and notarized. Simply email the signed and notarized contract back to us and your funds will be wired to your dealership’s account!
Remember that Cash today is worth more than cash tomorrow!
Why Sell Auto Notes?
BHPH Dealers often ask. Why should I sell my BHPH Auto Notes?
1. Make more Money.
2. Reduce your Exposure.
3. Never run out of Capital.
Sell More Cars!
Benifts Of Selling BHPH Portfolio
- Buy more inventory
- Get cash now instead of waiting for customers to pay you off.
- Reduce BHPH collection costs
- Eliminate the need for bank loans
- Make more profit
Sell More Cars!
Request A Quote
We will be glad to review your BHPH Bulk Portfolio and give you a quote. Call 615-414-6708